Capital Market Strategies LLC Sells 34,903 Shares of Goldman Sachs BDC, Inc. $GSBD

Key Points

• Capital Market Strategies LLC reduced its stake in Goldman Sachs BDC, Inc. by 23.4%, selling 34,903 shares, and now holds approximately 114,000 shares, which represents 0.9% of its portfolio.
• Goldman Sachs BDC recently reported disappointing quarterly earnings, with earnings per share of $0.38, missing expectations, and revenues lower than forecasts at $90.97 million.
• Zacks Research downgraded Goldman Sachs BDC from a "hold" rating to a "strong sell" with a consensus target price of $10.00.

Capital Market Strategies LLC cut its position in Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 23.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,000 shares of the financial services provider's stock after selling 34,903 shares during the quarter. Goldman Sachs BDC makes up about 0.9% of Capital Market Strategies LLC's holdings, making the stock its 20th biggest position. Capital Market Strategies LLC owned about 0.10% of Goldman Sachs BDC worth $1,282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nicholas Hoffman & Company LLC. grew its position in Goldman Sachs BDC by 5.1% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 19,291 shares of the financial services provider's stock worth $224,000 after purchasing an additional 938 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Goldman Sachs BDC by 6.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,835 shares of the financial services provider's stock worth $231,000 after purchasing an additional 1,147 shares during the last quarter. Captrust Financial Advisors grew its position in Goldman Sachs BDC by 10.9% in the 4th quarter. Captrust Financial Advisors now owns 11,861 shares of the financial services provider's stock worth $144,000 after purchasing an additional 1,165 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Goldman Sachs BDC by 7.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 26,316 shares of the financial services provider's stock worth $306,000 after purchasing an additional 1,842 shares during the last quarter. Finally, Centaurus Financial Inc. grew its position in Goldman Sachs BDC by 16.5% in the 4th quarter. Centaurus Financial Inc. now owns 13,603 shares of the financial services provider's stock worth $165,000 after purchasing an additional 1,925 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Goldman Sachs BDC

In other news, CEO Vivek Bantwal purchased 22,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average cost of $11.36 per share, with a total value of $249,920.00. Following the acquisition, the chief executive officer directly owned 22,000 shares of the company's stock, valued at approximately $249,920. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered shares of Goldman Sachs BDC from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of "Sell" and a consensus price target of $10.00.

Goldman Sachs BDC Price Performance

Shares of Goldman Sachs BDC stock traded down $0.02 during trading on Thursday, hitting $11.24. 579,557 shares of the company's stock traded hands, compared to its average volume of 753,404. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.50 and a quick ratio of 1.50. The firm's fifty day moving average price is $11.44 and its 200 day moving average price is $11.36. Goldman Sachs BDC, Inc. has a twelve month low of $9.51 and a twelve month high of $14.54. The company has a market cap of $1.28 billion, a PE ratio of 8.92 and a beta of 0.75.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. The business had revenue of $90.97 million for the quarter, compared to analyst estimates of $94.55 million. Analysts forecast that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 29th. Goldman Sachs BDC's dividend payout ratio (DPR) is currently 101.59%.

Goldman Sachs BDC Profile

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.